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First, it was Target. Then,
Neiman
Marcus. Now, Michaels Stores, the arts-and-crafts retailer,
has said it may be the latest victim in what is rapidly becoming
a string of data hacks targeting retail chains.

"We recently learned of possible fraudulent activity on some U.S.
payment cards that had been used at Michaels, suggesting we may
have experienced a data security attack," Michaels CEO Chuck
Rubin wrote in a letter on Saturday.

As of this morning, the magnitude of the breach -- the number of
consumers affected, the type of information that was compromised,
as well as when the attack occurred -- remains unclear. Rubin
urged consumers to remain "vigilant by reviewing your account
statements for unauthorized charges. If you believe your payment
card may have been affected, you should immediately contact your
bank or card issuer."

And this may just be beginning. Reuters reported that the U.S.
Federal Bureau of Investigation last week warned retailers to expect more attacks
and said the agency has reviewed 20 incidents over the past
year that were similar to the recent breaches.

If Michaels' customers are indeed affected, the crafts store
plans on following Target's and Neiman Marcus's lead by offering
shoppers free credit monitoring and identity protection.